Shawnee Kansas Real Estate Update – September 2010

Checking The Pulse Of The Kansas City Real Estate Market
Real Estate Info for The City of Shawnee Kansas
Recent
15 Days of Shawnee KS Market Activity

Taking the absorption rate over the past 15 days in Shawnee Kansas into account, there’s currently 11.2 months of inventory on the market. This is high and a pace of 40 sales per month city-wide just isn’t eating quickly enough into the nearly 450 homes currently for sale quick in Shawnee. Of further concern is it took 140 days on average for those 20 homes to sell and close.

Type

#

Average $

Avg DOM

Listings Past 15 Days

56 $260,154

Total Active Listings

447

Newest Contracts Written

26 $203,985 79

Newest Sold (Closed)

20 $231,689 140

* The Average $ of Newest Contracts considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew results. Stats may not be an exact 15 days from date of this post. DOM = Days On Market.

26 homes went under contract and the average sales price of about $204,000 was much lower than the $260,000 average figure of the seller’s homes that came on the market over the same period. If selling or buying a home in Shawnee Kansas is in your future, you’ll want to be sure you factor these stats into your real estate decision. Please let me know your specific real estate goals and I look forward to assisting you through the real estate process.

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Posted by Jason A. Brown

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Shawnee Kansas Real Estate Statistics * 15-Day Update On Shawnee KS

Hands On The Heartland
Checking The Pulse Of The Kansas City Real Estate Market

City of Shawnee Kansas Real Estate Update <> 15-day Glance

Shawnee KS Real Estate Market Stats

Type

#

Average $

Avg DOM

Newest Listings

61

$250,539

View Newest Listings

Total Active Listings

490

Newest Under Contract

32

$223,578

64

View Newest Under Contract

Newest Solds (Closed)

9

$207,974

37

View Newest Solds

* Average Newest Under Contract considers the price the homes were listed at when they went under contract. Data pulled from Heartland MLS and deemed reliable but not guaranteed. Low samplings in any category can skew a particular category. DOM is Days On Market. Note the date of this post as market stats become outdated. Stats may not be an exact 15 days. Stats were pulled 7 AM on 2/17/09.

In the city of Shawnee Kansas there continues to be more homes coming on the market than homes going under contract (pending) or than homes being sold (closed). This creates a further surplus of supply of homes in Shawnee. Using the past 15 days of sales as a basis for figuring the absorption rate in Shawnee KS, there’s more than 2 years of inventory on the market. If we use the Pending sales as the basis for calculating the absorption rate, the numbers look better and there is less than 8 months of inventory. Keep in mind that a 15-day period is a small sampling of market activity designed to look at the what’s going on now in the current real estate market.

While a 15-day period could indicate a trend it does not necessarily show a real estate markets long-term trend. The fact that the pending sales have picked up is a good sign and if most of them make it to the closing table then that certainly will be promising. Note that the average sales price was about $208,000 and the average listed price of the homes that went under contract was around $224,000. Both figures are lower than the average list price of the new listings we saw, which was around $250,000.

Posted by Jason A. Brown

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